The Asia Pacific nutraceutical ingredients market is completely driven by India, which accounted for nearly 31.5% of the market share in 2019.
Northbrook, IL -- (SBWIRE) -- 07/21/2021 -- The nutraceutical ingredients market is estimated to be valued at USD 162.1 billion in 2020 and is projected to reach USD 227.5 billion by 2025, at a CAGR of 7.0% from 2020 to 2025. The growth of the market is driven by factors such as growth in the demand for fortified food owing to the increasing health consciousness amongst consumers. Key drivers for the market's growth include increasing incidences of chronic diseases worldwide and mandates on food fortification by government organizations.
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By type, the probiotic segment is projected to account for the largest share of the nutraceutical ingredients market during the forecast period
The global market, by type, has been segmented into probiotics, proteins and amino acids, phytochemical & plant extracts, fibers & specialty carbohydrates, omega 3 fatty acids, vitamins, prebiotics, carotenoids, minerals, and others. The probiotic segment is projected to be the largest segment during the forecast period. Probiotic ingredients have witnessed positive effects on overall human health and are becoming one of the essential ingredients for various health & nutritional applications. Owing to which there is a wide range of probiotic-based applications in the functional food, functional beverage, dietary supplement, and animal nutritional industries.
By application, the market for the dietary supplements is projected to account for the fastest growing in the market during the forecast period
The nutraceutical ingredients market, by application, has been segmented into food, beverages, personal care, animal nutrition, and dietary supplement. The dietary supplement segment is projected to be the fastest-growing, by application, during the forecast period. Dietary supplements offer general health benefits such as improvement in the balance of the gut microflora, improvement of intestinal functions such as bulking and regularity, increased calcium absorption & improvement in bone density, enhancement of immune function, reduction in the release of toxins that can lead to fatty liver and other diseases, reduced risk of cardiovascular diseases, control of blood sugar, possible reduction of risk of obesity & metabolic syndrome, and improvement in abdominal pain, bloating, and constipation.
By form, the dry segment is projected to dominate the nutraceutical ingredients market during the forecast period
On the basis of form, the market is segmented into dry and liquid. A number of nutraceutical ingredients that are used in the dry form are vitamins, amino acids, prebiotic & probiotic premixes, proteins, and some minerals such as zinc and folic acid. These ingredients are extracted in dry form from several sources. As a result of the increasing demand for dietary supplements and functional foods in dry form, manufacturing companies are offering products in dry form; these are either available in the form of capsules or compressed into tablets.
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The Asia Pacific is projected to be the fastest-growing market for the forecast period
The Asia Pacific nutraceutical ingredients market is completely driven by India, which accounted for nearly 31.5% of the market share in 2019. The country is also projected to be the fastest-growing country in the region for nutraceutical ingredients due to changing lifestyles and dietary patterns and growing awareness about nutrition. Further, rising hospitalization cost is also driving the consumer demands for supplements and other nutrients such as vitamins and minerals, to maintain their health. Consumers in the country are now willing to spend an additional amount on fortified products, which has increasingly helped manufacturers of nutraceutical ingredients to find a substantial market opportunity.
The major companies include Associated British Foods (Uk), Arla Foods (Denmark), DSM (Netherlands), Ingredion Incorporated (US), Tate & Lyle PLC (UK), and Ajinomoto Co., Inc. (Japan)